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Coca-Cola hires Rob Gehring from Monster Energy to run its North American operations
CNBC • • business
Key Points:
- Rob Gehring, head of Monster Energy's Americas business, will leave to lead Coca-Cola's North America unit starting December 1.
- Coca-Cola aims to sustain growth despite U.S. consumer spending cuts amid higher gas and grocery prices, with second-quarter net sales up 7% and volume rising 3% in North America.
- Monster Beverage, smaller than Coca-Cola, reported a 20% net sales increase in Q2, driven by innovation in the energy drink market.
- Coca-Cola is expanding beyond traditional sodas by investing in new beverage categories such as refreshers and dirty sodas.
- Gehring previously served as Monster's chief growth officer and was CEO of Swire Coca-Cola USA before joining Monster; Coca-Cola shares have risen over 25% this year, while Monster's stock increased by more than 12%.
